Watts Water Technologies, Inc. Releases its 2023 Sustainability Report

Rhea-AI Summary

Watts Water Technologies (NYSE: WTS) has released its 2023 Sustainability Report, showcasing its commitment to environmental, social, and governance (ESG) practices. The report highlights several key achievements, including a new target to reduce absolute carbon emissions by 30% by 2034. Watts has also introduced measurable goals across four strategic pillars: Footprint, Handprint, Social Responsibility, and Corporate Governance. Over the past decade, the company has reduced global water usage by over 100 million liters, surpassing its initial goal by achieving a 62% reduction in water use intensity since 2018. In partnership with the Planet Water Foundation, Watts has provided clean water to over 70,000 people in nine countries. The company has received accolades such as America's Greenest Companies by Newsweek, America's Climate Leaders 2023 by USA Today, and America's Most Responsible Companies for the fifth consecutive year. Watts was also named among the Top Places to Work in Massachusetts in 2023 by The Boston Globe.

NORTH ANDOVER, Mass.--(BUSINESS WIRE)-- Watts Water Technologies, Inc. (NYSE: WTS) – through its subsidiaries, one of the world’s leading manufacturers and providers of plumbing, heating, and water quality products and solutions – today announced the release of its 2023 Sustainability Report, which highlights the Company’s environmental, social and governance practices and its commitment to best-in-class sustainability performance.

(Photo: Business Wire)

“For the past 150 years, our mission has been driven by the belief that safeguarding water isn’t just a business endeavor, it’s an obligation,” said Robert J. Pagano, Jr., CEO, President, and Chairperson of the Board. “In 2023, we continued to integrate sustainability at every level of our business, and we’re proud of the advancements we’ve made throughout our supply chain and operations, in our approach to product strategy and design, and through engagement with our employees and communities. We know that our actions have a ripple effect, and we will continue working with urgency to preserve our world’s most precious resource – water – for generations to come.”

Key Watts accomplishments highlighted in the report include:

• Established an absolute carbon emissions reduction target, a change from our previous approach of targeting reduced emissions intensity. By 2034, our goal is to reduce our absolute carbon emissions by 30%.
• Expanded our sustainability performance goals by adding measurable and timebound goals across all four pillars of our strategy: Footprint, Handprint, Social Responsibility, and Corporate Governance. We developed these goals with the intent to better drive our performance across the entire spectrum of our sustainability strategy.
• Reduced global water usage at our facilities by over 100 million liters over the past 10 years. This achievement far surpassed our original goal to reduce water use intensity by 3% annually — or a total of 15% by 2023 — and represents a 62% reduction in water use intensity since 2018. Still, as a global leader in water stewardship, we have committed to continue to target 3% annual reductions through 2026.
• Provided clean water access to vulnerable communities through our ongoing partnership with Planet Water Foundation, which to date has benefited more than 70,000 people in nine different countries.
• Recognized as one of America’s Greenest Companies by Newsweek, selected as one of America’s Climate Leaders 2023 by USA Today and earned Newsweek's designation as one of America’s Most Responsible Companies for the fifth consecutive year, ranking among the Top 600 from 2,000 major U.S. firms across 14 industries. We achieved No. 50 overall and third in the industry, the highest ranking in five years of recognition.
• Named one of Top Places to Work Massachusetts 2023 (North Andover Headquarters) by The Boston Globe – a result of the incorporation of inclusivity as one of our strategic pillars, cultural behaviors, and global performance management, which is helping to build a high-performance, values-driven culture that welcomes and celebrates every team member.

To download Watts’ 2023 Sustainability Report or learn more about the Company’s sustainability programs, visit http://www.watts.com/our-story/sustainability.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240702976951/en/

Watts Water Technologies, Inc.

Diane McClintock

Senior Vice President FP&A and Investor Relations

Telephone: 978-689-6153

Email: investorrelations@wattswater.com

Source: Watts Water Technologies, Inc

FAQ

What are the key highlights of Watts Water Technologies' 2023 Sustainability Report?

Key highlights include a 30% reduction target in absolute carbon emissions by 2034, a 62% reduction in water use intensity since 2018, and providing clean water to over 70,000 people through the Planet Water Foundation.

What new sustainability goals has Watts Water Technologies set for the future?

Watts has set new measurable and timebound goals across four pillars: Footprint, Handprint, Social Responsibility, and Corporate Governance.

How much water has Watts Water Technologies saved globally?

Watts has reduced global water usage by over 100 million liters over the past 10 years, achieving a 62% reduction in water use intensity since 2018.

Which awards has Watts Water Technologies received for its sustainability efforts?

Watts has been recognized as one of America’s Greenest Companies by Newsweek, one of America’s Climate Leaders 2023 by USA Today, and one of America’s Most Responsible Companies for the fifth year in a row.

What community impact has Watts Water Technologies made through the Planet Water Foundation?

Watts has provided clean water access to over 70,000 people in nine countries in partnership with the Planet Water Foundation.

What is the carbon emissions reduction target for Watts Water Technologies by 2034?

Watts aims to reduce its absolute carbon emissions by 30% by 2034.

How has Watts Water Technologies been recognized for its workplace culture?

Watts was named among the Top Places to Work in Massachusetts 2023 by The Boston Globe.